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29230 Dunbar Lake Elsinore, CA 92530

4 Beds 2 Baths 1,790 sqft Built 2018

INVESTimate

$414,999

List Price

$1,880

$1,692 - $2,068

Rent Est.

$452,515  ( +9.04%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2018
  • Price/Sqft : $231.84
  • 13 Days on Market
  • MLS # : SW20164987
  • Updated Date : 08/24/2020 at 21:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,790 sqft
  • Baths : 2 full
Listing Agent

Keller Williams, The Lakes

Listing Agent's Description

Beautiful Turnkey single story solar home in the Master Planned community of Summerly! This home features gorgeous durable vinyl wood flooring throughout most of the home, 4 Bedrooms , 2 full Baths and one of the largest backyards in the community. Make your way into the home and you will find the beautiful kitchen with stainless steel appliances, white cabinets, subway tile backsplash and a very large granite island with breakfast sitting and stunning granite countertops. The kitchen opens up to family room and formal dining area as well, which is great for entertaining family and friends. The Master bedroom is located on the opposite wing of the home also great for privacy. The master bathroom has a walk-in shower, huge soaking tub to relax and double vanity with beautiful quartz countertops and a large walk-in closet. Other features of the home include Ceiling fans, tankless water heater, carpet in the bedrooms, vinyl fence, alumawood patio cover and stamped concrete. Located near the Storm Stadium, shopping, Golf course, and easy access to the 15 freeway so this home will not last. Don't miss out on this gorgeous home book your appointment today!

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MARKET HIGHLIGHTS

  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • As part of Southern California area, Inland Empire market inherits all the benefits from the area.

PRICE & RENT TRENDS

Neighborhood: Summerly

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $132k459k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Summerly

ZipNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700180019002000Rent in $9902083

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
William Collier Elementary School Primary Regular 612 26 4
David A. Brown Middle School Middle Regular 1,010 41 4
Elsinore High School High Regular 2,125 90 5

William Collier Elementary School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 26
4
GreatSchools Rating

David A. Brown Middle School

  • Education Level: Middle
  • # of students: 1,010
  • # of teachers: 41
4
GreatSchools Rating

Elsinore High School

  • Education Level: High
  • # of students: 2,125
  • # of teachers: 90
5
GreatSchools Rating
 

$373,499$456,499$414,999

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,531
Property Tax -$390
Property Insurance -$71
HOA -$117
Property Management Fees -$111
CASH FLOW
-$339

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$414,999

PROJECTED PRICE

$1,880

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.04%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,249
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,059

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,880

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,011

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8803$2,1004$2,300
$2,300
RENT COMPS ANALYSIS
  • 29230 Dunbar Lake Elsinore, 2
    • 3 beds 2 baths ∙ 1,790 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,790 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.05
    •  
  • 1800 E Lakeshore Drive Lake Elsinore, 1
    • 3 beds 3 baths ∙ 1,527 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,527 Sqft ∙ Built 2005
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.16
    •  
  • 29518 Mascot Lake Elsinore, 3
    • 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2013
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.09
    •  
  • 18820 Oakview Way Lake Elsinore, 4
    • 4 beds 3 baths ∙ 2,052 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,052 Sqft ∙ Built 2001
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.12
    •  
PROPERTY LISTING DETAILS
Misty Cochren
Keller Williams, The Lakes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20164987
Last Updated: 08/24/2020
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